Cato (NYSE:CATO) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Cato Corporation (The) (NYSE:CATO)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.11 and traded as high as $3.35. Cato shares last traded at $3.27, with a volume of 61,565 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Cato from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Cato Stock Up 1.0%

The company has a market capitalization of $66.30 million, a P/E ratio of -331.87 and a beta of 0.57. The business has a fifty day moving average price of $3.28 and a 200 day moving average price of $3.11.

Cato (NYSE:CATO) last posted its quarterly earnings data on Tuesday, May 26th. The specialty retailer reported $0.47 earnings per share (EPS) for the quarter. The business had revenue of $171.10 million during the quarter. Cato had a return on equity of 0.05% and a net margin of 0.01%.

Institutional Investors Weigh In On Cato

An institutional investor recently raised its position in Cato stock. Goldman Sachs Group Inc. increased its stake in shares of Cato Corporation (The) (NYSE:CATO) by 76.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,437 shares of the specialty retailer’s stock after acquiring an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned about 0.24% of Cato worth $158,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Cato Company Profile

Cato Corporation is a specialty apparel retailer headquartered in Charlotte, North Carolina. Founded in 1946 by Carl and Bernice Cato, the company operates two banner store concepts—Cato and Versona—and maintains an e-commerce platform to extend its reach beyond brick-and-mortar locations. Cato’s retail mission centers on providing fashionable women’s clothing and accessories at moderate price points.

With over 1,200 stores across more than 30 U.S. states, primarily concentrated in the Southeastern and Mid-Atlantic regions, Cato serves a broad customer base seeking everyday and occasion-driven wardrobe solutions.